The people of the United Kingdom (UK) have spoken, and will be leaving the European Union (EU). The full ramifications of the exit decision are unknown, but one clear result is that the UK will no longer be bound or benefit from EU regulations, treaties and trade agreements, including the currently pending Privacy Shield* designed to facilitate the transfer of confidential data between the U.S. and the EU. It is too early to venture a guess whether the U.S. and the UK will seek a similar direct agreement; however, there likely will be a push to do so given the high level of investment by U.S. companies in the UK. For more information about the impact of the Brexit vote on data privacy regulations, please read our analysis in the June 24 Client Alert.